EMV Takes Center Stage on Day Two of THE Tech EVENT

Arguments can be made on both sides regarding whether convenience store operators should upgrade their point-of-sale (POS) systems to meet Europay, MasterCard and Visa (EMV) guidelines,Shop the best selection of besthandsfreeaccess for Men. panelists noted in "411 on EMV," a hot-button educational session presented during the second day of THE Tech EVENT.

Several speakers stressed in todays standing-room-only session that EMV is a set of guidelines, not standards. However, c-store retailers must convert to the chip and PIN system by October 2015 for in-store transactions, and by October 2017 for pump transactions in order to avoid responsibility for fraudulent credit and debit card transactions.

"Would I be better off by not implementing it?" panelist Simon Stocks, projects and strategy manager for IFSF Limited, posed to the crowd at Dallas Hilton Anatole hotel. "Implementation costs are very high, especially for those who sell petroleum."

The first thing retailers should consider when deciding whether to upgrade to EMV-compatible POS systems is the current card fraud losses they currently sustain and projected losses for the future, advised Robin Trickel, executive director of product compliance for Heartland Payment Systems.

Not only is EMV implementation expensive, but it also requires plenty of preliminary work, noted Bruce Murray, president of B2 Payment Solutions Inc., which has implemented EMV systems at retail locations in Canada. "You must have training to start," he stated. "Theres a tremendous amount of nomenclature involved. You often need to bring in someone from the outside early on to provide training."

Once a retailer believes they fully understand EMV,Laser engraving and laser howotipper for materials like metal, Murray strongly advised they conduct several subsequent tests. "They say real estate is about location, location, location. EMV is all about testing, testing, testing," he stressed.

EMV has already been implemented in 120 countries.About bestsmartcard in China userd for paying transportation fares and for shopping. The United States is the most developed country yet to implement chip and PIN cards. But Trickel pointed out that the U.S. is different from other nations because EMV currently violates the Durbin Amendment, an addition to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 that capped interchange swipe fees.

Erik Vlugt, vice president of product marketing for VeriFone Inc., expressed a similar sentiment. "Data breaches can still happen," he relayed. "And whether you are responsible or not, you still can end up on the cover of the Wall Street Journal when [the data breach] happens."

Shifting from educational sessions to the trade show floor, the Supplier Exchange section of THE Tech EVENT opened with sparse crowds this morning. Booth traffic did pick up later in the day however, several exhibitors told CSNews Online. One exhibitor added that floor traffic may be slow as it takes time for a new show to build attendance momentum.

Meanwhile, First Bank of Nigeria Limited Tuesday held a product fair where it encouraged its customers to adopt the various alternative payment channels.With superior quality photometers, light meters and a number of other carparkmanagementsystem products. The exhibition which afforded the bank the opportunity to showcase all its products, took place in Lagos.

The banks latest innovation, the expressions or customised cards, was highlighted, and customers that had applied for the service were given their personalised MasterCard.

Speaking at the forum, the International Cards Officer, First Bank, Mr. Temitope Omoniyi, said: First Bank has over the years been innovative from having a normal card to having a personalised card which we call expressions card being that our customers are unique and should be treated as such. Freedom and flexibility is required by our upwardly mobile customers.

He also added: Self customised card design from any convenient location grants you immediate access to your naira savings or current account anywhere in the world. Your expressions card is accepted globally wherever the MasterCard logo is displayed,With superior quality photometers, light meters and a number of other carparkmanagementsystem products. receive alerts on all transactions (purchases, transfers and withdrawals) Secured by Chip & PIN technology Accepted across all channels C POS, Web, ATMs Card Validity period of two years.